Medtronic plc (NYSE:MDT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in Medtronic plc (NYSE:MDT) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,294 shares of the medical technology company’s stock after selling 9,528 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Medtronic were worth $14,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Olstein Capital Management L.P. lifted its position in Medtronic by 19.2% during the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after acquiring an additional 14,000 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Medtronic during the second quarter worth approximately $25,643,000. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Medtronic during the third quarter worth $9,486,000. National Bank of Canada FI grew its position in Medtronic by 13.6% in the 1st quarter. National Bank of Canada FI now owns 261,325 shares of the medical technology company’s stock valued at $21,642,000 after buying an additional 31,195 shares during the last quarter. Finally, Harvest Portfolios Group Inc. increased its stake in Medtronic by 6.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 689,131 shares of the medical technology company’s stock valued at $62,042,000 after buying an additional 42,112 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday, October 14th. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Wells Fargo & Company upped their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Stifel Nicolaus increased their price objective on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.80.

Medtronic Stock Up 1.8 %

MDT opened at $87.53 on Friday. The firm has a market cap of $112.25 billion, a P/E ratio of 29.57, a PEG ratio of 2.50 and a beta of 0.84. The business’s fifty day simple moving average is $89.48 and its 200 day simple moving average is $84.74. Medtronic plc has a 52 week low of $74.20 and a 52 week high of $92.68. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 EPS. As a group, equities research analysts anticipate that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.